Celgene completes buy of Receptos, advancing immune-inflammatory portfolio

US biotech firm Celgene Corp (Nasdaq: CELG) has closed its acquisition of Receptos, whose stockholders received $232.00 per share in cash, for a total of around $7.2 billion, net of cash acquired. Celgene’s shares closed up 3.2% at $123.04 yesterday, following the announcement.

As a result of the completion of the previously-announced merger (The Pharma Letter July 15), the common stock of Receptos is no longer listed for trading on the Nasdaq Global Market or any other exchange and trading ceased at the close of the markets on Thursday, August 27, 2015.

The acquisition of Receptos significantly enhances Celgene’s Inflammation & Immunology (I&I) portfolio, further diversifies the company’s expected revenue beginning in 2019, and builds upon Celgene’s growing expertise in inflammatory bowel disease (IBD). The transaction adds ozanimod, a novel, potential best-in-class, oral, selective sphingosine 1-phosphate 1 and 5 receptor modulator (S1P) to Celgene’s deep and diverse pipeline of potential disease-altering medicines and investigational compounds.